{"id":"renzo-protocol","title":"Renzo Protocol","content":"The **Renzo Protocol** is a [Liquid](https://iq.wiki/wiki/liquid) Restaking Token (LRT) and Strategy Manager for [EigenLayer](https://iq.wiki/wiki/eigenlayer), providing access to the [EigenLayer](https://iq.wiki/wiki/eigenlayer) ecosystem. It secures Actively Validated Services (AVSs) and simplifies collaboration between users and [EigenLayer](https://iq.wiki/wiki/eigenlayer) [node](https://iq.wiki/wiki/node) operators. [Lucas Kozinski](https://iq.wiki/wiki/lucas-kozinski), [James Poole](https://iq.wiki/wiki/james-poole), and Kratik Lodha are the founders of Renzo. [\\[1\\]](#cite-id-hqplwr88ipd)\n\n## Overview\n\nLaunched in December 2023, Renzo, a [Liquid](https://iq.wiki/wiki/liquid) Restaking Token (LRT) and Strategy Manager operates within the [EigenLayer](https://iq.wiki/wiki/eigenlayer) ecosystem. It simplifies user interactions and fosters seamless collaboration with [EigenLayer](https://iq.wiki/wiki/eigenlayer) [node](https://iq.wiki/wiki/node) operators. It aligns with [EigenLayer's](https://iq.wiki/wiki/eigenlayer) mission of enabling [permissionless](https://iq.wiki/wiki/permissionless) innovation on [Ethereum](https://iq.wiki/wiki/ethereum) and establishing trust within the ecosystem. Renzo is the go-to platform for [Ethereum](https://iq.wiki/wiki/ethereum) restaking, offering a higher yield than [ETH](https://iq.wiki/wiki/ethereum) [staking](https://iq.wiki/wiki/staking) and promoting the adoption of [EigenLayer](https://iq.wiki/wiki/eigenlayer). It achieves this by [minting](https://iq.wiki/wiki/minting) an equivalent amount of [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) for every LST or [ETH](https://iq.wiki/wiki/ethereum) deposited. It uses [smart contracts](https://iq.wiki/wiki/smart-contract) and operator [nodes](https://iq.wiki/wiki/node) to secure an optimal risk/reward restaking strategy. [\\[1\\]](#cite-id-hqplwr88ipd)\n\n$$widget0 [YOUTUBE@VID](BRMacJrt7VM)$$\n\n## REZ\n\nLaunched on April 30th, 2024, REZ serves as the native [governance token](https://iq.wiki/wiki/governance-tokens) within the protocol, allowing holders to vote on governance proposals encompassing diverse matters. These proposals may cover operator whitelisting, Actively Validated Services whitelisting, frameworks for overall risk management, community and treasury grants, and specifications regarding concentration amounts, [collateral](https://iq.wiki/wiki/collateral) assets, and deposits. [\\[1\\]](#cite-id-hqplwr88ipd)[\\[2\\]](#cite-id-rgn1blmkc6i)\n\n### REZ Airdrops\n\nThe Season 1 [airdrop](https://iq.wiki/wiki/airdrop) followed a linear distribution based on a user's ezPoints balance. Renzo collaborated with a third-party data analytics company to identify sybil wallets and established a minimum ezPoints threshold per wallet as of the [snapshot](https://iq.wiki/wiki/snapshot) date for token distribution eligibility. Wallets with over 500k ezPoints were subject to a 50% unlock at the token generation event (TGE) and 50% linear vesting over three months. Season 1 concluded on April 26th. User eligibility was based on the ezPoints balance in their wallet at the time of the [snapshot](https://iq.wiki/wiki/snapshot), regardless of their current [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) balance. [\\[10\\]](#cite-id-azh0GR4yys)\n\nThe Season 2 campaign, which started on April 26th, aimed to support ongoing growth, reward early users, and enhance the utility and distribution of [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) [across](https://iq.wiki/wiki/across) all supported networks. Season 2 featured boosted points for [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) holders in user wallets and supported [DeFi](https://iq.wiki/wiki/defi) integrations. It distributed 5% of the total supply (500M $REZ) to the community over three months until July 26th. All Season 1 users received a 10% additional boost on their total ezPoint balance at the end of Season 2. [\\[11\\]](#cite-id-DyWeUhvI6l)\n\n### Tokenomics\n\n![REZonomics.webp](https://ipfs.everipedia.org/ipfs/QmSx6gKPFKNTzq9oJazWCAKsZCwhEXGUnS6CGPYrP56peN)\n\nThe maximum supply of REZ tokens is limited to 10B and has the following allocation: [\\[1\\]](#cite-id-hqplwr88ipd)[\\[2\\]](#cite-id-rgn1blmkc6i)\n\n* **Fundraising**: 31.56%\n  * Intended for the project’s early investors.\n* **Community**: 32%\n  * 7% allocated for Season 1 [airdrop](https://iq.wiki/wiki/airdrop) rewards based on earned ezPoints.\n  * Allocated for various community campaigns.\n  * 5% designated for the second season of incentives.\n* **Core Contributors**: 20%\n  * Distribution to Renzo Labs’ team and advisors.\n* **Foundation**: 12.44%\n* [**Binance**](https://iq.wiki/wiki/binance): 2.5%\n* **Liquidity**: 1.5%\n\n### ezETH\n\n[ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) functions as the [Liquid](https://iq.wiki/wiki/liquid) Restaking Token (LRT) within the Renzo Protocol, symbolizing the user's restaked position. Participants can stake native [ETH](https://iq.wiki/wiki/ethereum) or [liquid staking](https://iq.wiki/wiki/liquid-staking) tokens (LSTs), like [wBETH](https://iq.wiki/wiki/wbeth) and [stETH](https://iq.wiki/wiki/lido-staked-ethereum-steth), and in return, acquire [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth). Notably, [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) is a reward-bearing token, implying that its value has the potential to surpass that of the underlying tokens due to its yield enhancement within Actively Validated Services (AVSs). [\\[2\\]](#cite-id-rgn1blmkc6i)\n\n### pzETH\n\npzETH is a [liquid](https://iq.wiki/wiki/liquid) restaking token representing a user's restaked position within the [Symbiotic](https://iq.wiki/wiki/symbiotic) ecosystem. Users can deposit assets like [stETH](https://iq.wiki/wiki/lido-staked-ethereum-steth), [wstETH](https://iq.wiki/wiki/wrapped-steth-wsteth), [wETH](https://iq.wiki/wiki/weth-wrapped-eth), or [ETH](https://iq.wiki/wiki/ethereum) to receive pzETH, which secures Actively Validated Services (AVSs) and generates [staking](https://iq.wiki/wiki/staking) and restaking rewards. Upon deposit, pzETH automatically supports AVSs without requiring users to manage strategies or interact with [smart contracts](https://iq.wiki/wiki/smart-contract). Withdrawals are possible from day one, with full redemption available for the underlying [collateral](https://iq.wiki/wiki/collateral). Through [Symbiotic](https://iq.wiki/wiki/symbiotic), users earn rewards by restaking assets to support decentralized applications and services. [\\[9\\]](#cite-id-d5okuoxsjwk)\n\n### ezPoints\n\nRenzo's ezPoints system aims to incentivize active participation and contribution to the protocol's success. Participants are rewarded with points based on their involvement, with the quantity varying according to the duration and nature of their engagement. Holding [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) is one way to earn ezPoints, with holders receiving 1 Renzo ezPoint per hour for each [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) held. Early participants and those with larger [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) holdings receive additional points. [\\[1\\]](#cite-id-hqplwr88ipd)\n\n![ezPoints.png](https://ipfs.everipedia.org/ipfs/QmUFQym6SeecWmaEDJKWyjm9Lg17v4khAQhbzPUXJFdSVj)\n\n### ezEIGEN\n\nezEIGEN is a token designed to streamline the [EIGEN](https://iq.wiki/wiki/eigenlayer) restaking process. It automates reward claiming from multiple AVSs, including EigenDA, and auto-compounds those rewards to improve efficiency. The automation reduces [gas](https://iq.wiki/wiki/gas) fees and is built on the same secure technology as Renzo’s [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) product. By simplifying key processes, ezEIGEN makes restaking more accessible, potentially encouraging wider adoption. [\\[7\\]](#cite-id-fnn76l5f8se)[\\[8\\]](#cite-id-l83zqosk50o)\n\n## Partnerships\n\n### Connext Network\n\nRenzo Protocol has partnered with Connext Network to introduce cross-chain Native Restaking to [Layer 2](https://iq.wiki/wiki/layer-2) networks. This collaboration enables [ETH](https://iq.wiki/wiki/ethereum)/[wETH](https://iq.wiki/wiki/weth-wrapped-eth) holders to restake on prominent [Layer 2](https://iq.wiki/wiki/layer-2) chains supported by Renzo, offering increased [liquidity](https://iq.wiki/wiki/pol-proof-of-liquidity) and accessibility while simplifying the complexities of conventional restaking processes. Additionally, Renzo plans to extend support for LST restaking on Layer 2 networks. Integrating Renzo with Connext and [Chainlink's](https://iq.wiki/wiki/chainlink) Cross-Chain Interoperability Protocol (CCIP) ensures a smooth and seamless cross-chain Native Restaking experience for users. [\\[1\\]](#cite-id-hqplwr88ipd)\n\n### Pendle\n\nOn January 31st, 2024, Renzo unveiled its integration with [DeFi yield protocol](https://iq.wiki/wiki/defi-yield-protocol) [Pendle Finance](https://iq.wiki/wiki/pendle-finance). This integration operated through a single contract, the EIP5115 SY token, representing [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) at a 1:1 ratio. The SY tokens could be tokenized into principal tokens (PT) and yield tokens (YT). [\\[3\\]](#cite-id-8uk1irj7li)\n\n### Chainlink\n\nOn March 20th, 2024, Renzo announced its integration with [Chainlink Price Feeds](https://iq.wiki/wiki/chainlink) on [Ethereum](https://iq.wiki/wiki/ethereum) [mainnet](https://iq.wiki/wiki/mainnet), [Arbitrum](https://iq.wiki/wiki/arbitrum), and Linea. This integration allowed Renzo’s [ezETH](https://iq.wiki/wiki/renzo-restaked-eth-ezeth) to access reliable and tamper-proof price feeds, facilitating secure and expanded access to advanced [liquid](https://iq.wiki/wiki/liquid) restaking strategies and providing users with industry-standard price data for Renzo [DeFi](https://iq.wiki/wiki/defi) integrations. [\\[4\\]](#cite-id-xgh5onvhpu8)\n\n### Investors\n\n* [Binance Labs](https://iq.wiki/wiki/binance-labs)\n* Maven 11 Capital\n* [OKX Ventures](https://iq.wiki/wiki/okx)\n* IOSG Ventures\n* Bitscale Capital\n* SevenX Ventures\n* [Robot Ventures](https://iq.wiki/wiki/robot-ventures)\n* Figment Capital\n* [Mantle](https://iq.wiki/wiki/mantle-network)\n\n#### Seed Funding Round\n\nOn January 15th, 2024, Renzo raised $3.2 million in seed funding. Maven11 Capital led the round, which also included participation from Figment Capital, SevenX Ventures, IOSG Ventures, and other investors. [\\[5\\]](#cite-id-sst1xhwwi5)\n\n#### June Funding Round\n\nOn June 18, 2024, Renzo announced it had raised $17 million in a funding round, according to a press release shared with [CoinDesk](https://iq.wiki/wiki/coindesk). The funding, conducted over two rounds, was led by Galaxy Ventures in the first round and Brevan Howard Digital Nova Fund in the second. The capital will be used to expand the project's restaking services, including adding support for [ERC-20](https://iq.wiki/wiki/erc-20) tokens. [\\[6\\]](#cite-id-y14cstq6yrq)","summary":"The Renzo Protocol is a Liquid Restaking Token and Strategy Manager for EigenLayer, enhancing Ethereum security and offering yields higher than standard ETH sta...","images":[{"id":"QmcNe6sEFmFRkk1wm6bguNPGwYPvMBk7ynntroZLmpD69K","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"Decentralized Finance"}],"tags":[{"id":"Protocols"}],"media":[{"id":"QmSx6gKPFKNTzq9oJazWCAKsZCwhEXGUnS6CGPYrP56peN","size":"0.02","name":"REZonomics.webp","type":"GALLERY","source":"IPFS_IMG"},{"id":"https://www.youtube.com/watch?v=BRMacJrt7VM","size":"0","name":"BRMacJrt7VM","type":null,"source":"YOUTUBE"}],"metadata":[{"id":"website","value":"https://www.renzoprotocol.com/#what-is-renzo"},{"id":"contract_url","value":"https://etherscan.io/token/0x3B50805453023a91a8bf641e279401a0b23FA6F9"},{"id":"twitter_profile","value":"https://twitter.com/RenzoProtocol"},{"id":"discord_profile","value":"https://discord.gg/FMwGPDXXtf"},{"id":"telegram_profile","value":"https://t.me/RenzoProtocolChat"},{"id":"github_profile","value":"https://github.com/Renzo-Protocol/contracts-public"},{"id":"coinmarketcap_url","value":"https://coinmarketcap.com/currencies/renzo/"},{"id":"coingecko_profile","value":"https://www.coingecko.com/en/coins/renzo"},{"id":"medium_profile","value":"https://medium.com/@renzo-protocol"},{"id":"mirror_profile","value":"https://mirror.xyz/renzoprotocol.eth"},{"id":"references","value":"[{\"id\":\"hqplwr88ipd\",\"url\":\"https://docs.renzoprotocol.com/docs\",\"description\":\"Renzo Protocol Docs\",\"timestamp\":1714583554411},{\"id\":\"rgn1blmkc6i\",\"url\":\"https://cryptopotato.com/renzo-protocol/#3\",\"description\":\"What is Renzo Protocol? | Cryptopotato\",\"timestamp\":1714583738257},{\"id\":\"8uk1irj7li\",\"url\":\"https://www.binance.com/en/square/post/3508840331618\",\"description\":\"Renzo x Pendle\",\"timestamp\":1714583901344},{\"id\":\"xgh5onvhpu8\",\"url\":\"https://mirror.xyz/renzoprotocol.eth/c8achOl7yFk7hFLjyV56n3turYpIArh28ppu3PTeJaA\",\"description\":\"Renzo x Chainlink\",\"timestamp\":1716992917049},{\"id\":\"sst1xhwwi5\",\"url\":\"https://www.theblock.co/post/272679/ethereum-restaking-protocol-renzo-eigenlayer-funding-valuation\",\"description\":\"Renzo Seed Round Funding | The Block\",\"timestamp\":1719935981522},{\"id\":\"y14cstq6yrq\",\"url\":\"https://www.coindesk.com/tech/2024/06/18/renzo-capitalizes-on-restaking-frenzy-to-raise-17m-from-galaxy-brevan-howard/#:~:text=Liquid%20restaking%20protocol%20Renzo%20shared,Nova%20Fund%20in%20the%20second.\",\"description\":\"Renzo rasied $17M in funding round | CoinDesk\",\"timestamp\":1719936136013},{\"id\":\"fnn76l5f8se\",\"url\":\"https://medium.com/renzo-protocol/ezeigen-streamlining-eigen-restaking-78a9295cf3bf\",\"description\":\"ezEIGEN | Medium\",\"timestamp\":1729627400083},{\"id\":\"l83zqosk50o\",\"url\":\"https://docs.renzoprotocol.com/docs/renzo/usdezeigen\",\"description\":\"ezEIGEN | Renzo Docs\",\"timestamp\":1729627452554},{\"id\":\"d5okuoxsjwk\",\"url\":\"https://docs.renzoprotocol.com/docs/renzo/usdpzeth\",\"description\":\"pzETH | Renzo Docs\",\"timestamp\":1729627754164},{\"id\":\"azh0GR4yys\",\"url\":\"https://mirror.xyz/renzoprotocol.eth/gwO9wyZoOTg79yUw1hnS6q\\\\_eJGvfCj1CkmQFa8z32zU\",\"description\":\"Renzo Protocol - REZ Token Launch | Mirror\",\"timestamp\":1758043202976},{\"id\":\"DyWeUhvI6l\",\"url\":\"https://mirror.xyz/renzoprotocol.eth/g0T1DPAhp4LC555ydN\\\\_2rpKvEIDcFMWNWLGCUU2N2Cw\",\"description\":\"REZ Airdrop and ezPoints Season 2 | Mirror\",\"timestamp\":1758043202976}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmTUJX9XY1ovdNJfC1rNJwTdk4NAs4weQdmKSw5wunvFg9\""},{"id":"commit-message","value":"\"Docs: Enrich content with internal links and perform metadata cleanup.\""},{"id":"previous_cid","value":"QmTUJX9XY1ovdNJfC1rNJwTdk4NAs4weQdmKSw5wunvFg9"}],"events":[{"id":"09f084ed-3e51-4288-81ff-227ffa27da86","date":"2023-12-01","title":"Mainnet Launch","type":"CREATED","description":"Renzo Mainnet","link":"https://docs.renzoprotocol.com/docs/product/restake","multiDateStart":null,"multiDateEnd":null,"continent":null,"country":null}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0xacb6c5AD52b8f605299B0d774CE97F26e3DB80c2"},"language":"en","version":1,"linkedWikis":{"blockchains":["ethereum"],"founders":["lucas-kozinski","james-poole"],"speakers":[]}}